The global train seat market is estimated to garner US$ 3,001 Million while exhibiting a 4.5% CAGR during the forecast period. The growing support from several governments is likely to fuel the market growth in the coming years. The industry is expected to secure US$ 1,933 Million in 2022.
With increasing urbanization and increasing investment due to the growth of financial economies like china, and India there is an increase in demand for the train seat market. Increasing government investment in the development of railways drives the growth of the market. Increasing government initiatives aiming to attract tourists and travelers and usage of high-speed trains for long routes with a luxurious interior and better services will further help in the growth of the train seat market.
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The regional/intercity segment is likely to offer remunerative opportunities for the global train seat market. Several emerging economies are making significant developments in their technological sector, thereby, providing lucrative opportunities to players in the market.
Key Takeaways:
- The global train seat market is estimated at USD 1850 Million in 2021
- By train, the regional/intercity segment is expected to generate demand of over US$ 300.5 Million in the forecasting period
- By product, the non-recliner segment accounts for the CAGR of 5% during the forecasting period.
- Market in the US accounts for 3% CAGR in 2021.
- Market in the Asia Pacific to procure a market share of 890.5Million during the assessment period.
“The increasing consumer inclination towards safety and security in railway transportation and high investment in train sector development by government authorities are expected to fuel the demand for train seat market over the forecast period”
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Competitive Landscape
Key players in the global train seats market are Freedman Seating Co., Saira Seats, FISA Srl, Grammar AG, Franz Kiel GmbH, KTK Group, USSC Group, Transcal Ltd., Seats Incorporated, and GINYO Transport, among others
Recent updates from the industry are:
- In May 2020 – Freedman Seating Introduces Passenger Protective Equipment. These new products help fight the spread of germs on public and commercial transportation. Freedman’s Passenger Protective Equipment includes a Passenger guard, grab rail cover, and Social distance seat belt.
- Seats Incorporated designs, manufactures and markets seating and accessories for operators of vehicles with wheels or tracks. Seats Incorporated is now one of the most diverse seating manufacturers with products that are used in a wide variety of applications including industrial trucks, over-the-highway semi-tractors, off-highway equipment, earth moving equipment, military vehicles, and emergency vehicles.
- September 2021– Grammer is expanding in the Chinese automotive market. the company opened a new production site in the economic metropolis of Shenyang. The plant manufactures high-quality centre consoles, armrests and other interior components for vehicles from a European premium manufacturer.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global train seat market presenting a historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Train (Regional/Intercity, High-speed, Metro, Light), by Product (Non-recliner, Luxury/Premium, Recliner, Subway Seats, Sleeper/Couchette), by Application (OEM, Aftermarket) and Region (North America, Europe, APAC, MEA, and Latin America)
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The automotive team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analysing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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